Fineco Bank vs FXOpen Comparison
Comparing forex brokers side by side is no easy task. For our 2023 annual forex broker review, we spent hundreds of hours assessing 39 forex and CFD brokerages to find the best forex broker. Let's compare Fineco Bank vs FXOpen.
Can I trust Fineco Bank?
Fineco Bank has a trust score of 92, giving it a "Highly Trusted" trust label. Here's what each trust score label means:
- "Highly Trusted" (90-99) - These brokers are considered the most trustworthy firms in the industry. Simply put, we would not hesitate to open and fund an account with a Highly Trusted broker.
- "Trusted" (80-89) - These brokers are reliable and trustworthy. "Trusted" firms are a solid choice, and may simply hold fewer regulatory licences or feature different corporate structures than those brokers that have earned our top Trust Score rating.
- "Average Risk" (70-79) - Average Risk brokers are firms we generally consider to be safe, but that may warrant a closer inspection before you open and fund a live trading account. At the least, we always encourage traders to check the regulatory licenses for Average Risk firms to verify that they are regulated in their own country of residence.
- "High Risk" (60-69) - High-risk firms should be scrutinized and carefully reviewed before opening an account. These forex brokers are – in most cases – operating without credible regulatory licensing, and likely have a history of legal or financial issues. Before considering an account with a high-risk firm, we recommend checking our country guides for your country of residence to see if a more trusted broker is available.
- "Do Not Trust" (<59) - We do not recommend opening an account of any kind with a broker that earns a “Do Not Trust” rating.
Can I trust FXOpen?
FXOpen has a trust score of 80, giving it a "Trusted" trust label.
Is Fineco Bank a good broker?
FinecoBank is a trusted brand catering to forex and CFD traders, and listed on the Italian Stock Exchange. Operating out of the U.K. and Italy, traders aren't permitted to open online accounts with Fineco unless they are a resident of the U.K. or Italy (or are applying as EU residents – at an actual Fineco branch office).
Is FXOpen a good broker?
FXOpen is a plain vanilla MetaTrader broker that also offers the TickTrader platform. With less than 50 markets available to trade, and a limited selection of educational materials, FXOpen simply can't compete with the best forex brokers.
What tier-1 jurisdictions is each broker regulated in?
Tier-1 regulators go above and beyond by requiring additional capital requirements, checking in on brokers more frequently, and putting brokers through a tougher screening process. both Fineco Bank and FXOpen are Australia (ASIC Authorised) and United Kingdom (U.K.) (FCA Authorised).. Neither have Canada (SRO Authorised), Hong Kong (SFC Authorised), CBI Authorised (Ireland), Japan (SFC Authorised), Singapore (MAS Authorised), New Zealand (FMA Authorised), Switzerland (FINMA Authorised) and USA (CFTC Authorized)
What tier-2 jurisdictions is each broker regulated in? What about tier-3?
Tier-2 and tier-3 licenses are still important in evaluating the overall trustworthiness of forex brokers. As far as tier-2 licenses go, Fineco Bank is none, while FXOpen is Cyprus (CySEC Authorised).. Neither have China (CBRC Authorised), India (SEBI Authorised), Israel (ISA Authorised), Russia (CBR Authorised), South Africa (FSCA Authorised), Thailand (SEC Authorised) and UAE (DFSA/Central Bank Authorised). When comparing tier-3 licenses unfortunately, neither Fineco Bank nor FXOpen are Bahamas (SCB Authorised), Belize (FSC Authorised), Bermuda (BMA Authorised), British Virgin Islands (FSC Authorised), Cayman Islands (CIMA Authorised), Mauritius (FSC Authorised) and Vanuatu (VFSC Authorised).. Neither have Vanuatu (VFSC Authorised).
Which broker offers more trading platforms?
For trading platforms Fineco Bank supports a Proprietary Platform and Desktop Platform (Windows), whereas FXOpen supports a Desktop Platform (Windows) and ZuluTrade.. Neither have cTrader and DupliTrade
Does Fineco Bank offer MetaTrader? Does FXOpen offer MetaTrader?
For MetaTrader Fineco Bank provides neither of these, while FXOpen provides MetaTrader 4 (MT4) and MetaTrader 5 (MT5). If MetaTrader is a must for you, read our guides on the best MT4 brokers or best MT5 brokers.
How do Fineco Bank and FXOpen differ in terms of minimum deposit? What about average spreads and funding options?
Fineco Bank requires a minimum deposit of $0, while FXOpen requires a minimum deposit of $100. From our testing we found Fineco Bank offers spreads of N/A, while FXOpen offers spreads of N/A. Fineco Bank supports Bank Wire (Deposit/Withdraw) for popular funding options, where FXOpen supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and Skrill (Deposit/Withdraw).. Neither have PayPal (Deposit/Withdraw)
Which brokers offers more tradeable asset classes, Fineco Bank or FXOpen?
Fineco Bank offers a more diverse selection of investment options than FXOpen allowing you to trade Forex Trading (Spot or CFDs), Metals, Energies, Agriculturals, ETF and U.S. Stocks (CFD).. Neither have Spread Betting Looking at total tradeable symbols, Fineco Bank has 126, compared to 87 from FXOpen.
Can I trade cryptocurrency with Fineco Bank or FXOpen?
Crypto trading is popular with forex traders. Most crypto assets are offered either as the underlying physical asset or as a CFD or other derivative — including spot forex contracts. In terms of trading physical cryptocurrency neither Fineco Bank nor FXOpen allow you to trade physical cryptocurrencies.
Who offers more research tools, Fineco Bank or FXOpen?
In terms of research and research tools Fineco Bank gives traders the following tools: Stock Charts and Forex News (Top-Tier Sources). In comparison FXOpen has the tools listed here: Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources) and Social Trading / Copy Trading.. Neither have Autochartist and Trading Central (Recognia)
Overall winner: Fineco Bank
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We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.